The URL can be used to link to this page

Home My WebLink About0998 . . . ~ . w ~ ; i.~ • ~ t•~' :~t ~ ~~'1 . ~ 1 ~ . ~ ~ t • +i ~+rt~ and insnranos p~+emimns, as the c,a~e mpr be~ _wch eo~oees shaU be credited by the mort~~ee oa subsequent pyments ~ be ma~de by tha mort,~a~or. I!. howevar. the monthl~? p~?ments made br the a~ort~a~o~c andar (b) at psr~raph S pr~eoedins shaII not b~ aut8cient ~ py~?~e~ound senb. taicea ~nd asseesments ~ and insnrauoe~preoaia~ as tbe caas m~ b0. ~rhes~ the e~une ~hall beoame dne aad p~yaW then the mort~a~or 1 p~V t~o We a?ort,~a~es +uy? amonnt neoeeesry t~ mate up the deQcienq?. on or ore the ; d'?te when p+~nent oi anch ~nd rents, tases, assee~smeuta, or inauranos pre4miuma ahaU be due. Ii • . at a~r tima the murta~Bos' ahall tsnder to the mortgag~ee in aocordance with the proviaiona oi the note ~ecured hereby. iall t oi the entire iadebtedness represented thereby, the mortga~ee ahaU, in cam- ~ ; pating the atnonnt such indebtedness, credit to the soo~unt oi the a~ort,~gor all p~?menta mule under ; the proviaions oi (a) o~ par~?raP~h 8 hereof which the mortgagee haa not beoane obUBated t~ P~?y? to the ~ Fodenl Ho~sin~ Commieaioner and soy balan~e in~ in the iunds aocnmu4ted under the provisio~a , oi (b) a! eaid 8. Ii there shall be s defaullt~imder a~y of the provisions of thi,s mo re- snN3n~ in a p lic aale oi the premiaes oovered hereby or ii the mort,~agee a~oquires the prape~~er- wise after default, the mor~~~ee a6aU aPP~Y. at the t~me oi the oammencement oi such proocedin~s or at the time the pro is oth vise aoqnired, the balanoe tben rem~inin~ in the f~nda ~uxumulated nnder n staid note and ahall Pro~~ust aR1? P~Rj?m~ents which ahall have beencim~ide nnder (aj oi~ssud P~aBr' Pb- ~ 4. T~at he will p~y all tases. ~ssees~nents, water ratea. and other governmental or municipsl charBes, 4 ~nes, or impoaitions. ior which proviaion hAS not been m~de herainbefwre. snd in default thereot the mort~ - a+~S~e ~U? P~1Y the eAme; and tl?at he will promPW? deUver the ofgcial reoeipts theretor to the mortgagee. b. T'hst he will permit, commit, or suHer no waste, impAiranent, or deter~oration oi said property or aqy part thereol; and in the event oi the iailur~e oi the mortgagor to ~Ceep the buildings on aaiu prera~aes ~ and thase to be erected on esid prennises, or improvemente tfiereon. in goad repair. the mortgagee may ~ m:ke anch repairs as in ita discretion it may deem neoe~aary for the proper preaervation thereof. and the . iull smonnt o! eaah and ever9 anch p~nt. shall be immediatebr due and p~yablq snd ahall be secu~d by the lien af this mortgag~er, 8. Thst he wiU pay sll snd aingular the coets. charges. and e~cpenaes. incl reasonable lawyer'a m =e~s. and ooeta oi ab~trscta of tit1~, incurred or paid st any t~me by the mortg ~~use of the failure ~ on the part of the mortgagor promPtlY and iaUp tfl perform the agreementa an coven~~nta of said prnm• r~ iesory n~ote and tLia mortgage, and aaid oosts. charBes, snd espenses ahall be immedis~tely due and- p~y- able an d a h a U b e a e c ~ r e d by the lien oi this mo r t g a g e. kt Z. Tlut he will ~ee~ the impro~~nnaents now eaiating or hereaiter erected on the mortgaged ProPerty?. j~. ;nsnred as•m~y be reqnued fro~n time to time by the mo~~ nat loss by lire and other hazards, _ , caauatties, and oontingencies in anch amonnta and for aucb peri~as m~y be reqnired by morq~ snd will payp ptty. ehen dne, sny pr~niume on auch insurancs for ~yment oi which proviaion . nat been maderhereinbefore. AIl inanrance ahall be carried in compawea approved by mortgagee and . ~ the policies snd reaeWala thereof shall be held by mortgag~ee and have attached thereto lo~es puyable clanaes in favor oi and in iorm ac~oeptable to the mortgagee. In event of lo~s he wiU give immediate ' notice by mail to mortSaBee. and mo:'tSs~ee maY make proof oi loss if not msde promptly by mortgagor, - and ~ch insnraunce compaRy ooncerned ~s hereby suthorized snd directed to make payment for such - loss directl,y to mortgagee instead oi to mortgagor and raortg~e jointly, and the insurance pmoeeda. or any thereof, mmy be applied by mortgagee at ita option either• to the redi~ction of the indebtednees '~secured or to the r~toration or iepair of the property damaBed. In event of foreclosure of thia mortgag~e or other transfer of titie to the mortgaged property in ' ' ent of the indebtedneea aecured hereby. s11 right,. title, and interest of the mortgagor in snd to u~y inauranoe poUciea then in iorce . ahall pass to the purchaeer or grantee. 8~. Thst the mortgagee m~?. st ani? time pending a anit upon this mortgage; aPPu? to the court hav - ing ~nriadiction thereof ior the appointment of a receiver~ snd sach oonrt ahall forthwith appoint s receiver ot the premiaes covered her~by all and a ular, including all and sin~ular the inoome. ProBts, - . issnes, sad revennea from whatever sonroe deriv~ each snd ev oi which, it bein8 exPre~a1Y under- atood. is hereby mortgaged sa if a~p~eci~call,y aet fbrth and describei~ the granhn8 and habendum clausea hereof snd a~h receiver shalt have all the broad and eSective functions and pawera in anywise . entrua~ed by s oourt to a receiver. and auch appointment ahall be m~?tie by anch court as an adn?itted ~ ~ eqnity aad s matter o~ ab~olute right to aaid mortgagee, and witha~t referenoe to the adequacy or inad- ~equacy af the value of the property mortgaged or to the solvency or insolvency oi aaid mortgag~r or the defendsnta, and that auch rents, pr~8ta, income, isauea, s~nd revennea ahaU be applied by auch receiver sooo~ to the Gen of this mortgage and the practice oi auch oourt~. In the ev~t of sqy default on the pait oi e mortgagor hereunder: the mortgagor agrees to ps,y to t6e mortgagee on demand as a reason- ~ able monthly rental for the prem~sea an amount at least eqnivalent to one-twelft6 of the aggregate ~ of the twetve monthly installmenta payable in the then current year plns the actnal amount of the annual tazes assessments, watet rstes, ~nd insnrance premiums ior so~h year not eovered by the sioresaid mont~ly psymeats. - , _ . ; 9. The mortgagor further oovenanta that should thia mortgage and the note aec~red hereby not be : eligible for insurance under the Nstionat Housing Act within 3p from the date hereof _ ~ (written statement oi any offieer o! the Federal Housing Adaun~i~on or autborized agent of the _ , . Federal Housing Commissioner dated subeequetit to the ;;~pAy~ time from the date oi thia mortgage, declining to insure said note and. this a?ortgpge, ~ng deemed oonclusive proof of such in- ' eligibility), the mQrtgagee or the holder of the note may, at ita option, declare all sama aecured hereby immediately due and pnyable. . ~ - 10. That (a) in the event of any breach of this mortgage or default on the psut oi the mo~g~ r. or (b) in the event that any oi said sums of money herein referred to be not promptly und fuUy pa-i~ with- • ont demand or notice, or (c) in the eveat that each and every the stipulationa,.sgree~nents. oonditions. and covenants of said nots and this mortgage, are not duly~ promptlq, and fully performed; ~then in ' either or any such evea~ the said aggregate sum mentioned in aaid note then remaining unpaid~ wiW ~ interest aecrued to that time, and ail moneys secured hereby, ~hall beoome due and payable forthwith, or thereafter, at the option oi said mortgag~ee. as fnlly and corapletely as if all of the said aums oi money ~ ~ were orginally stipulated to be paid on auch day. an,ything in said note or in thia mortgage to tha contrary ~ ' notwitbatandiag; and thereupon or thereatter, at the option of aaid mortgagee, without notioe or demand, ~ suit ut Iaw or in equity, maq be pro~ecnted aa if all moneys secured hereby had mabired prior to its inati- ~;e - tution. The wortgsg+ee m~,y foreclaee thia mo , as to the amount ~o declared due andp~qable, snd ~ the said preanisea shall be sold to satisfy and p~sy~~e same together with costs, eapenaes, and allowancea. ~ ~ In case oi parti~l foreebaure of this mortgage, the mortgaged premiees ahall be sold subject to the oon• ~ tinuing lien o! this mortgag~e for the amount of the debt not then dne and unpsid. In auch case tfie pro- ~ visions of thia parsgrsph msy again be availed of thereafter from time to ttme by the ~rtgag~ee. , 11. Thst the mortgag~or vrill Qive immediate notice, by mail to the mortgagee of sqy oonveyanoe, ~ ~ triunsfer, or c.haa~e oi ownera6ip oi the preminea. 12 That no ~raiver oi any covenant herein or oi t6e oWigation aecured bereby ahaU at sny tims G~.~ thereatter be held to be a w?siver of the terms hereoi or o! the note secur+ed hereby. ~ ~